Carbon pricing ‘most cost-effective’ way to reduce greenhouse gas emissions, but not a ‘panacea’ to meet Paris targets, experts say

By Neil MossMar. 11, 2019

The nuts-and-bolts behind the Canadian government's carbon pricing plan.

Canada's carbon price is scheduled to increase until 2022 when each tonne emitted will be taxed at $50. The Alberta oil sands, pictured, accounts for nearly 10 per cent of Canada's carbon emission. The Hill Times file photograph

In order to reduce greenhouse gas emissions, Canada’s Liberal government has a direct price on carbon dioxide emissions that will start at $20 per tonne, and increase by $10 each year until 2022 when it will reach $50 per tonne. The Canadian government has estimated that the pricing system “could” cut carbon emission by 80- to 90-million tonnes by 2022.

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